Vedanta Invites EoI for its Tuticorin copper plant

Vedanta has invited the Expression of Interest (EoI) for its Tuticorin-based smelter, which has been closed since mid-2018 by order from the Tamil Nadu Government. The final date for submitting the EoI was July 4, and the bids were requested in partnership with Axis Capital.

Part of the sale is plant units, including oxygen production plants and homes. The plant was closed on suspicion of violating environmental standards.

Prior to the closure, Vedanta issued an ad soliciting bids for the unit. Sterlite Copper accounted for 40% of India's copper production. At the time of closure, it hired 5,000 people directly and another 25,000 indirectly.